Ari Dispenza Negotiates $650 PSF Sale Of Wynwood Retail Property

While Moishe Mana already owns more than 30 acres of land in Wynwood, it looks like the developer is not done acquiring property in the burgeoning arts district.
Mana paid $5.4 million for the retail building at 2450 Northwest Fifth Avenue, broker Ari Dispenza told The Real Deal. Dispenza’s Central Commercial Real Estate represented the seller, 5th Avenue Wynwood Partners LLC.
The deal closed on Monday.
The 8,310-square-foot building sits on a 9,685-square-foot lot. That means it sold for about $650 per square foot for the building, which was constructed in 1955.
The property is contiguous to the corner building on Northwest 24th Street and Fifth Avenue that Mana also owns, as well as properties that wrap around the block onto 24th Street. The LLC, which state records show is managed by Douglas H. Levine, paid $3.63 million for the building in 2014 as part of a bulk sale.
 
Source:  The Real Deal
 

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